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Sberbank Shares Soar, Boosting Moscow Exchange

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

Shares of Sberbank, Russia’s largest bank, jumped about 8% today, Friday, after recommending dividends to shareholders for 2022, and the Moscow Exchange index rose against this background.

By 14:01 Moscow time, the MICEX ruble stock index rose by 1.90% to 2301.92 points, the RTS dollar stock index rose by 1.94% to 945.22 points.

At the same time, the shares of Sberbank rose by 7.53%, to 1880.49 rubles.

The head of Sberbank, German Gref, said that since the beginning of the year, the bank has been experiencing active growth in the mortgage sector, since the number of applications for a mortgage loan submitted to the bank in February last year exceeded its level in January by 14%. since February 2022, the growth was 18%, this is the engine of profit growth.

Gref pointed out that Sberbank’s supervisory board recommended a 2022 dividend to shareholders of 25 rubles per share, subject to equal dividends on common and preferred shares, indicating that 565 billion rubles (about $7.33 billion) would be allocated. to pay dividends.

Source: RT + News

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